Goodman North America has completed the construction of a sustainability-focused 100,000-square-foot logistics distribution center in Carlstadt, N.J., 6 miles from Manhattan and close to the Ports of New York and New Jersey.
Goodman Industrial Center Carlstadt II offers customers a last-mile supply chain solution to reach more than 15 million residents in Central New Jersey and New York City.
According to Anthony Rozic, CEO of Goodman North America, the property’s location benefits from a robust labor force and convenient access to New York City via the Lincoln Tunnel, George Washington Bridge and public transportation.
With a 40-foot ceiling clearance and a 130-foot truck loading depth, the facility offers up to 50 percent more capacity than Class B properties, which typically feature 18- to 24-foot clear heights and limited loading capabilities.
Goodman Industrial Center Carlstadt II also includes eco-friendly design elements that comply to LEED Silver standards to meet expanding customer sustainability requirements.
“Companies in the digital economy view LEED certification as crucial, as they increasingly prioritize building resilience in their logistics and supply chain operations,” Rozic told Commercial Property Executive.
Building resilience hinges on developing eco-friendly properties, he observed. According to Rozic, developing sustainable properties means incorporating design features that optimize efficiency and reduce environmental impact across site selection, design, development, operation and redevelopment.
READ ALSO: Will CRE Market Conditions Improve?
Goodman North America’s strategy is to develop properties near consumers, prioritizing efficiency and climate resilience. “We’ve been measuring upfront embodied emissions of our developments since 2021 and engaging with our supply chains, either directly or through industry groups, on low-carbon solutions and building materials,” Rozic added.
The property experienced a 4.5 percent year-over-year rent increase in the third quarter and is generating significant inquiries, according to Jeff Volpi, director of Cushman & Wakefield Supply Chain and Logistics.
He told CPE that the average asking rent for warehouse space in Northern New Jersey continues to improve, propelled by the delivery of new construction that established a higher benchmark for pricing.
Looking at the second quarter, the Avison Young report for New Jersey found that the market is experiencing a return to normalcy after a prolonged period of increased activity.
Asking rents declined, and total industrial leasing activity slowed. Asking rents fell by 3 percent, with a projected 4.3 percent decrease by year-end. Leasing activity decreased by 32.5 percent year-over-year. Of the buildings currently under construction, 76.4 percent of the total square footage was forecast to be delivered empty.
Last month, MCB Real Estate acquired Howell 1, a 368,000-square-foot industrial facility in Howell Township, N.J., for $69.9 million. Active Acquisitions sold the asset, according to CommercialEdge data.